Dai ichi Life Insurance Company Ltd Makes New Investment in Wix.com Ltd. (NASDAQ:WIX)

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,016 shares of the information services provider’s stock, valued at approximately $639,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Bank & Trust Co acquired a new position in Wix.com during the fourth quarter worth approximately $26,000. Fidelis Capital Partners LLC bought a new position in Wix.com in the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. increased its stake in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares during the period. Principal Securities Inc. bought a new stake in Wix.com in the 4th quarter valued at $93,000. Finally, First Trust Direct Indexing L.P. bought a new position in Wix.com during the 1st quarter worth $214,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Bank of America raised their target price on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Piper Sandler reissued a “neutral” rating and issued a $184.00 price objective on shares of Wix.com in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $189.19.

Wix.com Stock Down 0.1 %

NASDAQ WIX opened at $156.59 on Tuesday. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 137.36, a PEG ratio of 3.41 and a beta of 1.47. The company has a 50-day simple moving average of $160.65 and a two-hundred day simple moving average of $149.76. Wix.com Ltd. has a 12-month low of $76.90 and a 12-month high of $178.65.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. Equities analysts expect that Wix.com Ltd. will post 2.01 earnings per share for the current fiscal year.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.